Several major filling stations in Abuja have lowered their petrol prices by ₦35 per liter to ₦1,295 to remain competitive and attract customers amid a period of relative price stability.
Filling stations across Nigeria’s capital city and its environs have initiated a downward adjustment in the pump price of Premium Motor Spirit (PMS) to attract more customers. Field checks conducted on Friday, April 24, 2026, revealed that several outlets, including AA Rano, Ranoil, and Mobil, have reduced their prices from ₦1,330 to ₦1,295 per liter. This ₦35 price cut marks a strategic shift by independent and major marketers to align their rates with the competitive pricing of industry leaders such as the Nigerian National Petroleum Company Limited (NNPCL), MRS, AP Ardova, and NIPCO, which have maintained a range of ₦1,290 to ₦1,295 for several weeks.
The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, confirmed that the recent price review is a deliberate effort to stimulate sales in a tightening market. Reacting to the development, Maigandi noted that the reduction was a necessary business move to remain relevant to consumers. “It is required to boost patronage,” he stated, emphasizing that market forces and the need for higher turnover are driving the current price movements among independent retailers.
This localized price drop comes despite significant turbulence in the global energy market. Although the ongoing Iran-United States conflict in the Middle East has triggered volatility in international crude oil benchmarks, domestic fuel prices in Nigeria have remained relatively stable since early April. Industry observers note that while global pressures persist, the current stability and marginal reductions in Abuja suggest a high level of competition within the downstream sector as marketers vie for a larger share of the local transit market.
READ THE FULL STORY IN DAILY POST